On October 28, Reed’s, Inc. (NYSE: REED) reported significant changes within its board of directors. John J. Bello and Louis Imbrogno, Jr., key board members, tendered their resignations. Mr. Bello, who previously held the position of Chairman and was a member of the operating committee, as well as Mr. Imbrogno, who served on the governance committee and audit committee, relinquished their positions. Additionally, on October 29, Thomas W. Kosler stepped down from his role as the Chair of the audit committee.
In other recent developments, the company announced on October 10, 2024, that Whitebox Multi-Strategy Partners, LP, Whitebox Relative Value Partners, LP, Pandora Select Partners, LP, and Whitebox GT Fund, LP transferred their entire interests in eight secured promissory notes (the “Notes”) of Reed’s to Reed’s majority stockholder, D&D Source of Life Holding Ltd. These Notes, backed by customary affirmative and negative covenants and potential events of default, are secured by the majority of Reed’s assets, which include all intellectual property.
Follow MarketBeat for further updates on Reed’s, Inc. as the situation continues to develop.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Reed’s’s 8K filing here.
About Reed’s
Reed's, Inc engages in the manufacture and distribution of natural beverages in the United States. The company offers Reed's craft ginger beer; Reed's real ginger ales; Reed's Classic Mules; Reed's Hard Ginger Ale; Reed's ready to drink products; and Virgil's handcrafted sodas.
Read More
- Five stocks we like better than Reed’s
- What is the S&P/TSX Index?
- Energy Vault Soars 100%: CEO Shares Why in MarketBeat Exclusive
- 3 Stocks to Consider Buying in October
- Meta’s Q3 Earnings Beat—Is This Dip a Golden Entry Opportunity?
- Why Are Stock Sectors Important to Successful Investing?
- Top Nuclear Stocks Thriving on Soaring Energy Demand
